Bitcoin’s Bullish Path to New Highs / Targeting $100K

2024年11月12日

📈 The overall trend for BTC on the weekly timeframe is strongly bullish, with the asset approaching a potential new all-time high (ATH).
👉🏼 Bitcoin is currently showing upward momentum and appears to be targeting the $93,000 level, which acts as a short-term dynamic resistance.

❌ Key Resistance and Pullback Zone:
The resistance around $93,000 could trigger a temporary pullback. In the event of a reaction at this level, BTC might correct towards the support range of $85,000 to $82,000 before resuming its bullish trajectory.
✅ This pullback, if completed, would potentially set up the next bullish leg towards higher targets around $100,000 to $105,000.

🔍 Altcoins Outlook: Given the bullish sentiment in Bitcoin, there’s an expectation of altcoin price increases over the next one to two months. During pullbacks, entering long positions on altcoins may be beneficial as they are likely to follow Bitcoin's bullish momentum.

Note: This analysis is provided for informational purposes only and should not be construed as a buy or sell signal.

2024年11月12日

註釋

The 50-day EMA is acting as strong support.